Anonymous
Anonymous asked in Education & ReferenceHomework Help · 1 decade ago

what is globalisation?

factors that have le to globalisation in 21st centuary

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  • 1 decade ago
    Favourite answer

    Globalization is the increasing interconnection of people and places as a result of advances in transport, communication, and information technologies that causes political, economic, and cultural convergence.

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  • Globalisation is the integrating of the national economy with the world economy. It results in the economic interdependence of the countries of the world.

    Factors that led to globalisation:

    1) Rapid improvement in technology has been one major factor that has stimulated the globalisation process. For instance, the past fifty years have seen several improvements in transportation technology. This has made much faster delivery of goods across long distances possible at lower costs.

    2) Liberalization of foreign trade and investments. In case you are wondering what that means, it means that governments of developing countries allowed foreign companies (MNCs) to set up trade and invest in trade in their country. They removed 'trade barriers' like tax on imports to liberalize the economy and allow globalization.

    The governments did it to mainly increase competition so that price would go down and quality of goods would go up. Plus, it would enable some big national companies to become MNCs themselves, thereby giving a boost to the economy.

    Liberalization in India was completed in 1991.

    Source(s): Economics textbook, Class X
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  • 1 decade ago

    Globalization is viewed as a centuries long process, tracking the expansion of human population and the growth of civilization, that has accelerated dramatically in the past 50 years. Early forms of globalization existed during the Roman Empire, the Parthian empire, and the Han Dynasty, when the silk road started in China, reached the boundaries of the Parthian empire, and continued onwards towards Rome. The Islamic Golden Age is also an example, when Muslim traders and explorers established an early global economy across the Old World resulting in a globalization of crops, trade, knowledge and technology; and later during the Mongol Empire, when there was greater integration along the Silk Road. Global integration continued through the expansion of European trade, as in the 16th and 17th centuries, when the Portuguese and Spanish Empires reached to all corners of the world after expanding to the Americas.Globalization in the era since World War II was first the result of planning by economists, business interests, and politicians who recognized the costs associated with protectionism and declining international economic integration. Their work led to the Bretton Woods conference and the founding of several international institutions intended to oversee the renewed processes of globalization, promoting growth and managing adverse consequences. These were the International Bank for Reconstruction and Development (the World Bank) and the International Monetary Fund. It has been facilitated by advances in technology which have reduced the costs of trade, and trade negotiation rounds, originally under the auspices of GATT, which led to a series of agreements to remove restrictions on free trade.

    The effects of Globalization are most often positive for the world’s elite.

    Those same effects are extremely negative for the world’s “commoners”.

    Globalization is merely the newest word for the New World Order.

    Don’t be fooled by this term or “Global Community”.

    All three terms mean the same thing.

    When spoken by those working for the banking and industrialist crooks seeking to establish their One World Government, these terms represent future tyranny.

    Always understand that most of the corrupt officials in the US government are merely puppets for the elite.

    They either don’t fully understand where “their” policies are taking us...

    or they naively believe they’ll be spared the tyranny that will result if the elite are successful.

    The current effects of Globalization will seem mild if the "One Worlders" are able to implement their full plans for us.

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  • 1 decade ago

    Hello,

    Globalisation.

    A situation where interaction among nations and people take place through unrestricted movement of men, money, and material is called globalisation.

    MODERN GLOBALISATION

    Industrial Revolution, The scientific and technological advancement, establishment of world bodies and MNC's, United Nations, World Bank, World Trade Organisation have played an important role in the process of globalisation with emphasis on liberalisation and privatisation.

    Source(s): MY TEXT BOOK
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  • Anonymous
    1 decade ago

    Globalization is the increasing interconnection of people and places as a result of advances in transport, communication, and information technologies that causes political, economic, and cultural convergence.

    Globalization can be found in five different areas: economic, cultural, political, religious, and social systems.

    It should not be narrowly confused with economic globalization, which is only one aspect. While some scholars and observers of globalization stress convergence of patterns of production and consumption and a resulting homogenization of culture, power, stress,and hunger, others stress that globalization has the potential to take many diverse forms. In economics, Globalization is the convergence of prices, products, wages, rates of interest and profits. Globalization of the economy depends on the role of human migration, international trade, movement of capital, and integration of financial markets. The International Monetary Fund notes the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions, free international capital flows, and more rapid and widespread diffusion of technology. Theodore Levitt is usually credited with first using the term globalization in an economic context.

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  • kanya
    Lv 5
    1 decade ago

    In business an enterprise can be private or can have limited liabilities. It can also go public or become public limited Company. One step further will be globalisation of the company.

    This means the Company has expanded its activities on a global scale. The Company will have resources global y in technology, material or input wise. Similarly their products and services willl be available global y . What started as a private has now expanded, diversified and now enjoy participation world wide.

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  • 1 decade ago

    LPG, ie.liberalisation, privatisation, and globalisation occured in the turn of the millinium as a dynamic concept rised out of lethargy of sluggish economies. The great player is IT(information technology) gave vent to globalisation wherein the entire globe is said to have become a small village. Accountability, transperancy, reformations etc.have taken place as a big surge in all spheres of life starting from Y2K thanks to the IT revolution. With this backdrop, nations have now heading for a cultural exchange, pacts and democratic approach in all wakes of life with a goal for a 'peaceful globe'.

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  • Anonymous
    1 decade ago

    its not "globalisation" it's "globalization!" it means that all countries in the world will unite and become one country. in other meaning of globalization in the business side. globalization is a way that a country can trade to another country with low tariffs and custom duties. the biggest negative effect of the globalization is the agriculture industry. i hope you all understand.

    factors in globalization? in reality check the factors are money and power!

    why money? they can control the production and price of the product and they can make the prices higher .power ? they manipulate the production like food . in a simple phrase globlization = manipulate the world!

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  • 1 decade ago

    Globalization can be found in five different areas: economic, cultural, political, religious, and social systems.

    It should not be narrowly confused with economic globalization, which is only one aspect. While some scholars and observers of globalization stress convergence of patterns of production and consumption and a resulting homogenization of culture, power, stress,and hunger, others stress that globalization has the potential to take many diverse forms. In economics, globalization is the convergence of prices, products, wages, rates of interest and profits. Globalization of the economy depends on the role of human migration, international trade, movement of capital, and integration of financial markets. The International Monetary Fund notes the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions, free international capital flows, and more rapid and widespread diffusion of technology. Theodore Levitt is usually credited with first using the term globalization in an economic context.

    Looking specifically at economic globalization, it can be measured in different ways. These centre around the four main economic flows that characterize globalization:

    Goods and services, e.g. exports plus imports as a proportion of national income or per capita of population

    Labour/people, e.g. net migration rates; inward or outward migration flows, weighted by population

    Capital, e.g. inward or outward direct investment as a proportion of national income or per head of population

    Technology, e.g. international research & development flows; proportion of populations (and rates of change thereof) using particular inventions (especially 'factor-neutral' technological advances such as the telephone, motorcar, broadband)

    Source(s): en.wikipedia.org
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  • 1 decade ago

    Globalization is the idea that all countries should unite for the good of the planet and all its inhabitants. This concept isn't realistic as economies are run by the rich and corporate boards of different countries. As we all know, people will do what is in their best interests and globalization isn't as products can be manufactured cheaply in one country and sold at a higher markup in another. It a liberal view of the world and you will never see it in your lifetime or any lifetime. Sorry!

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